Title
An ordinance approving a public service agreement by and between Velocity Lee's Summit, Inc. and the City of Lee's Summit, Missouri for services to be provided to the City and authorizing the City Manager to execute the same by and on behalf of the City. (CEDC 6/13/18)
(Note: First Reading - and amended - by Council on July 12, 2018.)
Body
Issue/Request:
An ordinance approving a public service agreement by and betwee Velocity Lee's Summit, Inc. and the City of Lee's Summit, Missouri for services to be provided to the City and authorizing the City Manager to execute the same by and on behalf of the City.
Key Issues:
Velocity Lee's Summit is an independent 501c3 non profit organization who serves Lee's Summit entrepreneurs. Previously, the Lee's Summit City Council commissioned the Market Center of Ideas Task Force with the goal of seeking robust programming and support for Lee's Summit entrepreneurs with the purpose of growing and creating local jobs. In 2015, The Lee's Summit City Council and the Market Center of Ideas entered into a public service agreement (PSA) and funded the Task Force with $30,000. Since that time, and following a brand change renaming the group as Velocity Lee's Summit, the Board of Directors continues to serve growth oriented entrepreneurs and early stage businesses.
Velocity is seeking to renew the PSA for a three year period with a total funding amount of $210,000. Attached is a draft PSA and ordinance for review. Unless otherwise directed, the funding source for this agreement would be the unanticipated year end savings in FY18.
Proposed City Council Motion:
I move for second reading of an ordinance approving a public service agreement by and between Velocity Lee's Summit, Inc. and the City of Lee's Summit, Missouri for services to be provided to the City and authorizing the City Manager to execute the same by and on behalf of the City.
I move for adoption of an ordinance approving a public service agree...
Click here for full text